DNC: Investigate McCain For Election Law Violations

WASHINGTON — Democratic Party officials plan to file a new lawsuit to compel federal regulators to investigate whether Sen. John McCain violated election laws by withdrawing from public financing.

The Democratic National Committee announced Tuesday it will sue next week in U.S. District Court. It will ask the court to order the Federal Election Commission to examine, within 30 days, the legality of McCain's decision to reject $5.8 million in taxpayer funds.

By turning down the money, the presumed Republican nominee was able avoid strict spending limits between now and the GOP's national convention in September.

At issue is a $4 million line of credit the McCain campaign obtained late last year. While the loan was not secured by the promise of public funds, his agreement with the bank required McCain to reapply for public funds if he lost early primary contests and to use that money as collateral.

The DNC filed a complaint with the FEC in February, arguing that the bank arrangement violated federal regulations. But the six-member FEC has been unable to act because it doesn't have a quorum. Four nominees are awaiting Senate confirmation.

In throwing out an earlier DNC lawsuit, a federal judge pointed out that federal rules give the FEC up to 120 days to act on a complaint. That deadline expires next Tuesday.

McCain's campaign and his bankers adamantly deny that they used the public funds as collateral. On Tuesday, Republican National Committee chief counsel Sean Cairncross called the suit "meritless," and noted that McCain was entitled to withdraw from the public finance system because he did not receive any public funds during the primary.

Still, FEC Chairman David Mason in February asked McCain to explain the terms of the loan and informed McCain that he would need approval from the full FEC before withdrawing from public financing. McCain's campaign said it did not need such approval.

Comments

[vshdst]

Arrogant and shameless!

What do you expect from a person whose wife is a millionaire and he owes more than $100,000 in credit card debt.
What do you expect from a person who lied about his military history. Whose father intervened so that his son would receive preferred treatment even though he's incompetent.
What do you expect from an adulterous person who referred to his spouse an a c***.

Finally,
Keating 5! Think of all of the people who lost everything in that Savings and Loan scandle. Four of the criminals involved were dealt with.
The fifth criminal is running as the repub nominee for president - McCriminal.

[CjAzure]

Abuse of power already? He does not need such approval from the FEC , huh? Sounds very Mcfamiliar!

[TheOldCowboy]

Just imagine getting to enjoy four more years of watching John McCain lie, cheat, and flip-flop through the presidency. The only upside being that he will be the last Republican president ever.

[twgbonehead]

Sadly, the downside would be the last American President ever.

[Meggie]

what would the Keating Five be called without John McCain? The Keating Four. Big suprise there are questionable financial dealings. Just because you don't know much about finances and the economy doesn't mean you can use it as an excuse to keep getting yourself caught in dishonest financial transactions, John.

[AnotherToerag]

And to think... a good number of Americans want to put this man in charge of our entire economy!

[emmaspeaks]

He assumed Obama was going to use public money because Obama said he would 'consider' it. So, he jumped the gun, and now wants to take it back. Well, John McCain, you can't have it both ways. That's not the type of politics you play with the American Public.

[mahoner]

Pure psychological wars. I love it.

[darthdarcy]

Anyone who would have a swindler like Phil Gramm as his top economic adviser, can't be trusted..

McCain has really gone over to the sleazy side...

[GemNY]

He hasn't gone over. He was there to start with.

In his long legislative record, it began with the Keating five and just rolled down a sleazy path since then.

[Chillinout]

And the corruption starts before McCain even enters the White House. Of course he violated FEC regulations, Repubs don't have to follow the law, the Geneva Conventions, or the constitution.

When are you all going to realize that?

[Myshkin57]

Look at that Town Hall with only him. I'm pretty sure that thing was a violation of FEC rules as it was essentially a free advertisement given to him by Fox.